Estonia's GDP changed from approximately $1B 791M in 1993 to $43B 486M in 2024, showing an overall 2328.0% sharply increased during the period.
The lowest GDP was recorded in 1993 at $1B 791M, and the highest in 2024 at $43B 486M.
Over the 31-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 10.8%.
For comparison, the average annual growth rate of Latvia was 10.8%, and that of Russia was 11.1%.
Estonia GDP from 1993 to 2024
The total market value of goods and services produced annually in Estonia.
Overview of Estonia's GDP (1993–2024)
The Gross Domestic Product (GDP) of Estonia recorded a 2328.0% sharply increased from 1993 to 2024.
The average GDP during this period was $19B 142M, and the median was $21B 84M.
GDP fluctuated within a range of $41B 695M, with a standard deviation of $12B 231M.
The average annual change was $1B 272M.
Highest and Lowest GDP Records
- Lowest GDP: 1993, $1B 791M
- Highest GDP: 2024, $43B 486M
- Most Recent GDP: 2024, $43B 486M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2009: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Estonia's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $31B 294M → $31B 305M
- Outcome: remained stable
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $22B 476M → $19B 693M
- Outcome: sharply declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $5B 707M → $6B 269M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $5B 160M → $5B 678M
- Outcome: sharply increased
Key Economic Indicators of Estonia (1993–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1993 | 0 % | $ 1B 791M | $ 11B 206M | $ 1,194.19 | $ 7,474.08 | 26.45 % | 1M 499K people | 1.178 % | 0 % |
1994 | -1.642 % | $ 2B 507M | $ 11B 258M | $ 1,711.27 | $ 7,682.94 | 19.48 % | 1M 465K people | -6.587 % | 0 % |
1995 | 2.155 % | $ 3B 909M | $ 11B 741M | $ 2,721.01 | $ 8,172.86 | 20.30 % | 1M 437K people | -4.04 % | 0.17 % |
1996 | 4.943 % | $ 4B 785M | $ 12B 547M | $ 3,379.95 | $ 8,863.70 | 19.82 % | 1M 416K people | -8.346 % | -0.523 % |
1997 | 13.05 % | $ 5B 160M | $ 14B 429M | $ 3,686.89 | $ 10,310.16 | 21.67 % | 1M 400K people | -10.904 % | 3.363 % |
1998 | 4.34 % | $ 5B 678M | $ 15B 225M | $ 4,096.13 | $ 10,983.52 | 21.91 % | 1M 386K people | -8.459 % | 1.046 % |
1999 | -0.425 % | $ 5B 772M | $ 15B 375M | $ 4,151.43 | $ 11,058.98 | 21.68 % | 1M 390K people | -4.267 % | -3.078 % |
2000 | 10.088 % | $ 5B 707M | $ 17B 309M | $ 4,084.94 | $ 12,390.27 | 23.07 % | 1M 397K people | -5.41 % | -0.036 % |
2001 | 6.004 % | $ 6B 269M | $ 18B 761M | $ 4,516.22 | $ 13,515.68 | 22.48 % | 1M 388K people | -7.1 % | 0.333 % |
2002 | 6.771 % | $ 7B 391M | $ 20B 343M | $ 5,358.42 | $ 14,748.26 | 21.87 % | 1M 379K people | -11.067 % | 0.286 % |
2003 | 7.6 % | $ 9B 891M | $ 22B 321M | $ 7,216.27 | $ 16,284.36 | 22.33 % | 1M 371K people | -12.87 % | 1.392 % |
2004 | 6.804 % | $ 12B 158M | $ 24B 481M | $ 8,923.19 | $ 17,967.09 | 22.73 % | 1M 363K people | -11.922 % | 2.115 % |
2005 | 9.526 % | $ 14B 126M | $ 27B 654M | $ 10,426.69 | $ 20,412.27 | 24.68 % | 1M 355K people | -8.678 % | 0.851 % |
2006 | 9.766 % | $ 17B 47M | $ 31B 291M | $ 12,657.06 | $ 23,233.21 | 24.91 % | 1M 347K people | -14.927 % | 2.505 % |
2007 | 7.579 % | $ 22B 476M | $ 34B 574M | $ 16,764.94 | $ 25,788.63 | 25.15 % | 1M 341K people | -14.86 % | 2.195 % |
2008 | -5.132 % | $ 24B 433M | $ 33B 432M | $ 18,273.30 | $ 25,003.42 | 22.98 % | 1M 337K people | -8.657 % | -3.354 % |
2009 | -14.629 % | $ 19B 693M | $ 28B 717M | $ 14,756.39 | $ 21,518.72 | 23.56 % | 1M 335K people | 2.55 % | -3.117 % |
2010 | 2.444 % | $ 19B 568M | $ 29B 777M | $ 14,696.81 | $ 22,363.56 | 23.37 % | 1M 331K people | 1.783 % | -0.627 % |
2011 | 7.263 % | $ 23B 210M | $ 32B 598M | $ 17,484.73 | $ 24,557.24 | 26.88 % | 1M 327K people | 1.316 % | 0.402 % |
2012 | 3.228 % | $ 23B 34M | $ 34B 385M | $ 17,414.24 | $ 25,996.08 | 27.46 % | 1M 323K people | -1.897 % | -0.829 % |